Now that a new Ethereum-based meme coin has stormed the crypto market, Ethereum whales are now paying more attention to new entrants. Specifically, Cutoshi (CUTO), a fast-rising presale star is said to hold immense potential to drive positive engagement and growth in the DeFi market.
Notably, Cutoshi has attracted massive interest from investors, with the ongoing presale campaign accumulating over $500K in revenue. This has spurred speculations about its potential to become the next meme coin star when it finally lists on top exchanges amongst other top altcoins.
Cutoshi (CUTO) Attracts Massive Interest After Surging Presale Performance
Following its recent listing on CoinMarketCap, Cutoshi (CUTO) is already starting to attract whale interest to its hybrid MemeFi ecosystem. The Cutoshi ecosystem essentially consists of intrinsic features like a multi chain DEX that allows users to swap crypto assets without restriction. There is also a staking protocol and a farming mechanism that offer an extra layer of incentives for users.
Meanwhile Cutoshi’s hybrid approach is largely inspired by two fundamentals – the popular Chinese Lucky Cat known for good luck, as well as Satoshi Nakamoto’s Bitcoin principles that centers on decentralization, monetary empowerment, and privacy. These fundamental principles and cultural themes usher users into the Cutoshi ecosystem with a positive mindset.
Another interesting part of this project is the native $CUTO token. The deflationary token is designed to be self-sustaining due to its built-in scarcity. Essentially, CUTO’s supply is gradually reduced in order to drive scarcity that in turn boosts both demand and token value over time. Having increased by over 46% from its initial presale price of $0.015, the CUTO token is currently priced at $0.022 in its second presale stage.
Grayscale’s ETF Move May Boost Ethereum’s Demand And Accessibility.
Grayscale recently filed a request to SEC proposing to convert its large capital funds which includes Ethereum and other top altcoins. While the ETF proposition is still under review, a positive feedback from the SEC could increase Ethereum’s accessibility and therefore boost its price and market appeal among institutional investors.
Currently, Ethereum token is settling in a weekly price range of $2,564 and $2,747, after declining by nearly 3% in the past month and slightly over 2% in the past week, representing a consolidation phase for Ethereum price. This consolidation resulted in a deep plunge below the $2,644% as observed in the monthly chart below.
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Despite the positivity brewing from Ethereum ETFs, Ethereum token is still consolidating with little leaps to a higher level. Howevers, investors are positive about Ethereum token and are holding on to their assets as they expect an imminent rise soon.
Can Cutoshi Really Top Ethereum Meme Coins When It Launches?
Cutoshi has a vast ecosystem that no Ethereum meme coin has been able to achieve to the same degree. Due to its unique hybrid ecosystem which houses several lucrative and incentivized DeFi features, Cutoshi can start leading meme coins on the Ethereum network by 2025.
For more information on the Cutoshi (CUTO) Presale:
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https://twitter.com/CutoshiToken
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